Role of OSS and new-gen tech in digital decision-making in fintech

Disruptions and transformations in traditional BPM/BPA landscape

Context and problem statement

For long, Business Process Management/Automation (BPM/BPA) has been a staple in fintech and insurance industries; with established enterprise players offering solutions for integration and enabling complex workflow definition/management for operations such as underwriting/claims etc. However; there have been new age challengers to these established players in the form of open source solutions, cloud based serverless capabilities as well as new age industry specialized solutions.

What has also made this space interesting is the advent of AI/ML which has truly revolutionized decision making capabilities, and has both traditional and new-gen players embracing it in their respective offerings.

This discussion intends to share across observations across the usually traditional BPM/BPA landscape which is now transforming into decision making landscape.

This is an exploratory discussion to understand:

  1. How are traditional fintechs looking at these new gen technologies and planning their transformation journeys?
  2. Are these challengers well equipped to address the fintech space? Discussion of observations/case studies is welcome.
  3. Is this transformation merely about moving from solution A to B ? Or are there tangible short and long term benefits an organisation derives by embarking on this journey?

At the end of this session, participants will gain the following:

  1. Broad landscaping of players (established and newgen challengers).
  2. Transformation bottlenecks, guardrails and experiences.
  3. Direction in which Fintech is moving as an industry in terms of transformations and adoption of new tech.

Rishu Mehrotra, Principal Technology Consultant at Boston Consulting Group (BCG) will drive this discussion. Participants are welcome to join with case studies, experiences and questions.

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  • Anwesha Sen

    Role of OSS and New-Gen Tech in Digital Decision-Making in Fintech

    Nearly all major decision making tools that are currently used in business process automation and management are still proprietary and are offered from well established players. Lately, there is a new generation of companies in Fintech who place a lot more emphasis on exploring if open source technologies can take over this well established area where enterprise players are playing. more

    03 Aug 2022

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